Monday, April 30, 2012

Luck ... what do you make of it?

In their excellent business book, Great By Choice, authors Jim Collins and Morten T. Hansen make some very interesting points about luck in business.  They summarize it by suggesting four possible outcomes from luck and they are:
  • Great return on good luck
  • Poor return on good luck
  • Great return on bad luck
  • Poor return on bad luck
In business, we are going to have some timely breaks and some untimely bad twists in fate.  This is a given but what we make of these can to some degree be controlled.  In the book, they give several examples of businesses that have capitalized on both good and bad luck.  They also outline some missed opportunities.

The same carries over to all aspects of life.  It would be great if we could figure out ways to make the best of whatever comes our way.

Wednesday, April 25, 2012

Tell me what you don't like

Sometimes, being a good friend involves telling someone what you don't like about your friend or what bothers you about them. Now, I don't mean saying that you have a big nose or big ears or things like that. Instead, I mean that there are times that you can really help your friends by telling them what you don't like about them.

For example, sometimes you seem too self-centered. Or, you make things about you and you don't listen. Or, I feel uncomfortable when you ....

These are helpful suggestions that not only help the recipient to become a better version of themself, it can possibly strengthen your relationship. Of course, you must be very sensitive because you know that we all get our feelings hurt. It the risk of hurt feelings outweighs the benefits of constructive criticism, don't do it.

If you have the kind of relationship with someone that you can definitely tell them things that need improvement, you probably have a true friend. That is golden so be very careful with it.

Analogies

I love analogies. They help to make your point and they are fun to figure out. Writing on a blog IS LIKE having a diary that you WANT people to read. You are sharing thought with others and not just your future viewing. Thank you so much for reading by the way.

Having professional sports teams compete with widely varying pay structures and vastly uneven overall payrolls is not fair to the fans or the teams. It IS LIKE having a 100-yard dash with a field of 8 sprinters. Numbers one and two, you guys are good to go; numbers three and four, put on these winter coats, numbers five and six you run with these work boots; numbers seven and eight, you carry these barbells. Ready, set, go... not fair:(

Here is another. Doing good works for others IS LIKE mining gold. Some are large and produce quick results on a large scale, while others are nuggets. Many nuggets add up over time and the results are still large.

What analogy can you share?

Tuesday, April 24, 2012

Focus on their strengths, manage their weaknesses

Everyone is going to have people in their lives who are difficult to deal with, difficult to get along with. This is true for your professional life as well as your personal life. That is a given and what you do about it is the variable.

At a recent conference that I attended, one of the presentations was about this very subject. The speaker was Steve McClatcly of Alleer, a training and consulting company. What Steve advised in dealing with such situations was to focs on people's strengths and manage their weaknesses. We all have both and if you want to increase the number and percentage of people you call friends, this method works.

In a relationship, you focus on the strengths and manage the weaknesses. Then you build a like and an interest in the other person. Its not that your friends are perfect, you look for the things that you like and focus on those. Discover the things that you love about that person and make those the center of your attention. For the things that you don't like, manage those weaknesses even if it means not talking about them.

Of course there are people with whom it is difficult to impossible to cope with. Those are the ones that we need to minimize our time with. For the rest, keep the things in mind that you like about them. Keep in mind the good things that they do. De-emphasize their weaknesses or the things that bother you. This will work.

Monday, April 23, 2012

More about globalization

I have the distinct privilege as Publisher of Hydraulics & Pneumatics to attend several industry functions. We at H&P have been members of the National Fluid Power Association (NFPA) for over 50 years and one of my assignments is to represent H&P at the Annual Conference.

This year, it was held on the Big Island of Hawaii making it an even more special privilege. Several great speakers took to the podium this year and one of the recurring focus topics was the globalization of industry as it relates to fluid power. I tried to capture the main points presented and reviewed them in an article.

You can find that article on this website or by following this link http://hydraulicspneumatics.com/blog/more-about-globalization. If you are so inclined to share your opinion, I would love to know what you think of the article. It is my first on this website. Thank you so much for reading.



Friday, April 20, 2012

The Importance of Relationships and Trust

I attended a really excellent presentation by a speaker named Steve McClatchy about relationships in business and how good relationships are critical to success in many ways. I quickly realized that all of what Steve was presenting is also very applicable to relationships in every aspects of our lives.

Of course one of the key aspects of a good relationship is trust that is a two-way situation. This trust has to start somewhere in a relationship. Starting first in this trust is similar to "I'll like you if you'll like me. But someone has to go first.

The same is true in a trusting relationship. We may very well have a natural mechanism that prevents us from going first but it makes sense to start a trusting relationship by going first. Starting first and building trusting relationships can be a very life enriching practice. We are faced with many situtaions in life where having trusting relationships built up over years are extremely helpful.

For more information about Steve McClatchy, I recommend that you visit his website http://www.alleer.com/stevemcclatchy.htm. If you or your company is looking for an exceellent resource for coaching on this subject, this may be your answer.

Thursday, April 19, 2012

Competitive Advantages

At the 2012 Annual Meeting of the National Association for Hose and Accessory Distribution (NAHAD), author Jaynie Smith gave a presentation titled Relevant Selling - Competitive Advantage. Smith made it very clear that an advantage must be relevant in order for it to truly be a competitive advantage in any market.

When asked what their advantages are, most companies will give answers that are common to a list of about 10 characteristics that include things like price and service. However, as Smith points out, if these advantages are not relevant to the customers, then they really are not differentiators. Then pricing becomes the main characteristic.

I recommend that you take a look at both of Jaynie Smiths two books on the subject including her latest titled Relevant Selling. More details can be found on her website http://www.jayniesmith.com/smart-advantage

Wednesday, April 18, 2012

Can you do it again and again and again?

It is one thing to have success at something once, twice, or even over a short period of time. It is all together something else to experience success at something over a long period of time. It takes repeated work and constant determination, patience, and persistency.

It is also important to know what and when to change your process or product to succeed. These are generalities but I am also speaking of specifics for being able to repeat a successful process. Specifically, if you are selling shoes, for example. Perhaps your store asks you to be polite, helpful, and follow a specific process for EVERY customer.

So, day after day, night after night, you as the salesperson must follow all of the steps. Further, for your store to be successful, every salesperson must follow every step. Every manager must enforce every step every day. This takes a lot of effort. But, if your process is successful, not only do you need to repeat it, you need to monitor the process and know when and what to change. Can you do it again and again and again?

Tuesday, April 17, 2012

What are you enthusiastic about?

Think of all the people that you come into contac with every day. Do they greet you with enthusiasm? Are they interested in what you have to say to them?

How many people do the things they do every day with enthusiasm? I don't necessarily mean outward obvious signs of enthusiasm but sincere eagerness to be open and sharing with others. It is so gratifying when you know that a person you speak with is really interested in you and what you have to say.

As we go through our day, whether it be at work, at play or at home, things would go so much better if we were enthusiastic about what we are doing. The golden rule does apply here, show the kind of enthusiasm that you would like to receive. Give it some consideration.

Sunday, April 15, 2012

Magnetic Christianity

In an earlier post, I mentioned tht Catholic Channel on Sirius XM 129 and the morning show hosted by Gus Lloyd. The name of the show is Seize the Day and I recommend it for your morning listening.

Gus has also written a very informative and inspirational book titled Magnetic Christianity - Using Your God-Given Gifts to Build the Kingdom. That is what all Christians are called to do. Having read about one-third of the book so far, I can strongly recommend it.

There are many similarities to the t book called Rediscovering Catholicism by Matthew Kelly. This is another strongly recommended book.

Friday, April 13, 2012

Branding

Branding is key to any business. Increasing brand awareness causes more customers to know about your products and thus your sales will increase. To read more about business branding please see my other blog http://hydraulicspneumatics.com/blog/michael-ferences-blog-publisher-hp

However, I believe that branding in way actually applies to every individual. Let's only consider the positive side here. Everything about a person is part of their image or, in a sense, their personal brand. Your appearance, actions, and beliefs all make up your personal image or brand.

You are probably not selling a product necessarily but we are constantly selling our best self to others because that is who we want them to know.  Consider your overall self as your brand.  What do you want to do with it?

Thursday, April 12, 2012

Some paranoia and repetition

Productive paranoia is what Jim Collins and Morten T. Hansen refer to in their book Great By Choice referring to being very vigilant in taking care of all the details in business. Making all the preparations and having redundant plans for success make sense when managaing your business.

Maintaining your process with careful attention and being prepaed for any and all problems allow a business to survive and perhaps thrive in difficult times. It is safe to say that all businesses can expect difficult times to come their way. Being "extra" prepared allows them to manage these challenges.

As for repetition, it also makes sense for a business to figure out what works and being able to replicate it again and again over a long period of time. When a process works, there is less need for change. This is also very true in the field of sales. Repeated service, needs analysis, gathering and using important intelligence all help a sales rep to serve customers.

Seize the Day

When I signed up for Sirius XM radio, I did it because I knew that I would like the music choices. And I do. The factor that I did not expect was that my favorite station would be a mostly talk station and that is Sirius XM 129 The Catholic Channel.

I have mentioned The Catholic Guy which is one of my favorite shows. It is on in the afternoon drive-time and is hosted by Lino Rulli who I have posted about before. Lino and Father Rob have a great show.

Another excellent show on The Catholic Channel takes place every morning Monday through Friday and it is called Seize the Day. It is hosted by Gus Lloyd who does a fantastic job of discussing and explaining Catholic beliefs and practices. On the show, Gus, his guests, and call-in participants discuss many current topics relating to our Catholic beliefs.

Gus always shows the utmost respect to all guests and I find that very impressive. In addition, Gus reads and reflects on the daily Scriptures which I also find very helpful and inspiring. I strongly recommend Seize the Day on Sirius XM 129 The Catholic Channel. Keep up the great work Gus!

Tuesday, April 10, 2012

It all begins with selling

I have been involved with business for over three decades and directly in sales for most of the time. I have visited many companies and have reviewed their businesses and have studied books on selling. One observation that I can easily make is in line with the old saying that "nothing happens until somebody sells something."

There are many essential parts to a business. Accounting and Finance are necessary for the function of a business. But, without sales, there will be nothing to account for. Designing and producing products that are innovative, useful, and available is what makes a business what it is. However, no matter how good your product is or how fast it is made, without sales they are useless.

Human Resources, Payroll, Maintenance, and Management are all important. Without sales, there will be no business to manage, no reason to maintain machinery, and no resources to maintain a workforce. Our jobs depend upon sales. Let's give our due respect to salespeople. Selling is one of the oldest and noblest professions.

Monday, April 9, 2012

Applying Specific Wisdom

In business and in your personal life, you gain specific wisdom. In business, after applying certain principles and strategies to your business, you learn what works and what doesn't. It is similar to the bullets then cannonballs theory explained in Great By Choice by Jim Collins and Morten T. Hansen.

You use intelligence from experience to apply best practices to your business. That is using specific wisdom in business. In your personal life, of course, you gain some wisdom and intel every single day.

Again, applying what works to make your life more successful is an application of specific wisdom. It makes sense to keep and use knowledge to make all future decisions rather than guessing all of the time on the right decision.

Sunday, April 8, 2012

Happy Easter

On this day, we celebrate and remember the resurrection of our Lord and Savior Jesus Christ. Alleluia Alleluia. Praise to You Lord Jesus Christ, King of Endless Glory!

Saturday, April 7, 2012

Striving for Balance

Balance in life is essential for success. Keeping balance is never easy. Being overcomitted to one or other area of your life puts you out of balance. If you have the right balance, you will probably be more successful in every area of your life. For example, an individual with a balanced life is probably a better and more effective worker. If you are overcomitted at your profession, that could lead to fatigue in many different ways; physical, mental, and burn out. Keeping a focus on balance helps to maintain the right combination of elements in your life.

Thursday, April 5, 2012

Teamwork is a main ingredient to success

Working as a team is the best way to achieve success in business, sports, in community events and efforts, and all areas of activity. A team is a group of individual who bring their individual talents together for a cause.

I have heard it said that ordinary people working together for a common cause can achieve extraordinary things and I believe this to be true.  There is a synergy that is naturally created when people work together.  Not only do team members work together for the common goal, they constantly have each others' backs.

Working on a great team might even be much more rewarding than being a superstar individual.  I have worked on great teams but have not experienced superstar status at anything, so I can't speak from experience.  I do know that real teamwork does work!

Wednesday, April 4, 2012

A Book Review - Sinner by Lino Rulli

When I first got Sirius XM radio in late 2011, I was thrilled to find that I had so many music choices from all of the stations on the Sirius XM radio dial. I did not expect to get hooked on a station that featured mostly talk shows but I did Sirius XM 129 The Catholic Channel.

One of my favorite shows on The Catholic Channel is the afternoon drive program that features a host by the name of Lino Rulli. He is a very witty guy who along with his co-host Father Rob Keigron offer lots of light-hearted viewpoints about being Catholic. In fact, the name of the show is The Catholic Guy. I have really gotten to like the show and listen to it almost every day.

Lino Rulli has written a book titled Sinner and it is mostly about the trials and tribulations of his life and how we are all tempted by and often fall to sin. However, it is comforting to know that our God is a forgiving and merciful God and Lino points this out quite clearly in Sinner.

None of us are perfect and it was fun and interesting to read about how Lino has dealt witht the things that have come his way in life. This book offers a great insight into what makes The Catholic Guy who he is. I like the radio show even better now.

More from Great By Choice

One of the very strong points that authors Jim Collins and Morten T. Hansen make in their recent book Great By Choice is that discipline in any business endeavor or any activity for that matter is critical to success. They refer to it as fanatical discipline but they mean it in a very positive way.

I have learned that paying attention to every detail is extremely important to making a business successful and profitable. Striving to win in small increments helps to ensure large and long-term gains.

It is very easy to be side tracked away from discipline because of complacency, resting on success, or just losing focus. It is probably easier to stay disciplined than it is to get it back.

I have only read about the first third of this new book Great By Choice but I have learned a great deal already. It is at least the equal to their previous best business book ever - Good to Great.

Monday, April 2, 2012

The Final Four, Mega Millions, and Holy Week

Some things occur every year or every month or every week around the same time.  The outcomes for some events are more predictable for some than others.

If you play the lottery, in particular the real big one, your chances for success is micro miniscule. It could still be fun to play and, who knows, maybe one day you will get rich.  
The Final Four comes around every year at this time and it too is a lot of fun. You enter a bracket pool and perhaps pick the winning team. Your favorite team could also be the winner bringing you some joy. The odds are better here than in the Mega Millions.  My favorite teams are Cleveland State, Ohio University, and the University of Oklahoma.  This year we had a huge success with Ohio!!!

And finally, every year around this time, Christians commemorate the passion, death, and Resurrection of Jesus Christ at Holy Week.  The infinite love of God the Father, the Redemption offered by Jesus Christ our Lord and Savior, and the fellowship of the Holy Spirit are sure things.  Have a great Holy Week and a very Happy Easter!!!

Sunday, April 1, 2012

Connections to the Past

I recently acquired an IPhone. I am still trying to figure out and understand the capabilities of it and I probably won't get it until it is time for a new one.

Anyway, one of the cool apps for the IPhone, or any computer for that fact, is a music player called Pandora. So, I downloaded the Pandora app (it makes me feel cool to say app) to my IPhone and I occasionally listen to it with the headphones that came with the phone.

Then one day I wondered what it would sound like without the headphones so I upplugged them while the music was playing. Well it sounded like my old transistor radio from the 1960s and 70s. Remember them? You could take them anywhere and listen to music that was neither clear nor loud.

My next reaction was that this is not so bad, neither was the transistor radio in its day. You could still listen to music without being tethered by headphones and you could listen to other things as well.

I guess that in its day the transistor radio wasn't so bad. A connection to the past.